An efficiency approach to choice set formation: theory and application to recreational destination choice

C-Tier
Journal: Applied Economics
Year: 2010
Volume: 42
Issue: 3
Pages: 333-350

Authors (4)

David Scrogin (not in RePEc) Richard Hofler (not in RePEc) Kevin Boyle (Virginia Polytechnic Institute) J. Walter Milon (not in RePEc)

Score contribution per author:

0.251 = (α=2.01 / 4 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

An unresolved debate in behavioural choice research surrounds specifying individual choice sets. To overcome the limitations of deterministic and probabilistic approaches in a framework consistent with individual optimizing behaviour, this study develops an efficient frontiers approach to the choice set problem in the context of revealed preference destination choice. Stochastic frontier models relating costly inputs to utility generating outputs are estimated to measure the efficiency of sites; choice sets are then formed by retaining sites that exceed alternative efficiency thresholds. Choice set composition, site choice efficiency and probability of selection and consumer surplus are evaluated in the case of fishery site choice in Maine.

Technical Details

RePEc Handle
repec:taf:applec:v:42:y:2010:i:3:p:333-350
Journal Field
General
Author Count
4
Added to Database
2026-01-24